NEW YORK (TheStreet) --American mutual fund manager and noted investor Ron Baron says Tesla (TSLA) is one of the most interesting, if not the most interesting company he has ever invested in. Baron is the founder of Baron Capital, an NYC-based investment management firm.

"We own a million and a half shares [of Tesla], it took us three and a half years to acquire the shares, so it's a $300 million investment. That represents one and half percent of our assets," Baron said during CNBC's "Squawk Box" on Friday morning.

"I think in this investment from here in the next 15 years we can make 30 to 50 times our money," he noted.

However, there is some risk associated with his position in the electric car manufacturer, Baron added.

"It's risky because you're dependent upon other factors you can't control. You're dependent upon, to some extent, legislatures," Baron said.

Another uncertain situation Tesla is presently tackling is its proposed merger with SolarCity (SCTY), however, Baron sees this as just another significant opportunity for Tesla.

"There are 200 million cars in this country and 17 million cars produced in this country, I think they are all going to be electric someday. If I'm right, what happens is there will be a tremendous demand for electricity. Where do you get it from? The electricity grid is not growing; they aren't building new power plants," Baron explained.

He believes SolarCity will play an integral role in this electricity revolution and transformation. "The reason you're buying it is you are re-inventing the electric grid. That's a bigger opportunity than cars, and you need to do it because you're not going to have enough electricity for cars," Baron added.